Matson: 2Q Earnings Snapshot
HONOLULU (AP) _ Matson Inc. (MATX) on Wednesday reported second-quarter earnings of $18.4 million.
On a per-share basis, the Honolulu-based company said it had profit of 43 cents.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The ocean transportation and logistics services company posted revenue of $557.9 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $565 million.
Matson shares have risen 14% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $36.54, a climb of slightly more than 1% in the last 12 months.